🠈 Crescent Real Estate 🠊
Crescent Real Estate
Crescent Real Estate is a real estate trust and development firm that was created by billionaires John Goff and Richard Raintree. Mr. Raintree started his career by managing Bass Family Fortune in Texas.
I am combining combining references to Goff and Raintree as an an article in the New York Times indicates that Raintree owned a company called Crescent Operating Inc. that worked with Goff's Crescent Real Estate Equities Company.
- 1994: Crescent Real Estate raised $500 million in an IPO with symbol CEI.
- 1996: Crescent RE acquired Canyon Ranch which has spas in Tucson, Las Vegas and Lenox, Ma.
- 1998: Goff formed Goff Capital Partners.
- 2000: Charter Behavioral Health Systems, which was 90% owned by Crescent Operating Inc. with the real estate managed by Crescent Real Estate, declared bankruptcy.
- 2002: Crescent Operating (COPI) commences a bankruptcy plan that ends with Crescent Real Estate issuing stock for select assets (I couldn't figure out this article)
- 2007: Morgan Stanley Real Estate acquired Crescent Real Estate, which owned about 70 office buildings, for $2.34 billion.
- 2009: Goff reacquired Crescent from Morgan Stanley.
- 2016: Crescent Real Estate and Goff merge.
- 2016: Crescent acquired Tuscany Plaza in Greenwood Village, Co. (ref Mile High CRE).
- 2017: Crescent, Lionstone and Goldman Sachs acquired Flat Iron Park in Boulder for $170 million.
- 2017: Crescent develops the Platte Fifteen building that is due to open in 2019 in Denver.
- CNBC - Morgan Stanley acquires Crescent (Drawn 10/1/2018)
- NY Times Crescent Real Estate Acquires Canyon Ranch (Drawn 10/1/2018)
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